The average used car sold price was up 2.97% on 2017 figures, standing at £12,903, despite vehicles selling at a slower pace. The average used retail price continues to rise steadily, in line with the rest of 2018.
Days in stock increased by an overall average of four days in April 2018 compared to last year. Electric vehicles show a significant fall in days in stock compared to other fuel types (41 in days in 2018 v 48 days in 2017).
Petrol and hybrid vehicles are selling slower than in 2017.
Overall, used car sales are expected to improve as consumers are confused by the new tax affecting new vehicles.
The average auction wholesale prices increase 19.32% in April year on year and, out of seasonality, 1.5% since March.
Diesel and petrol prices remained overall stable, with slight increases in the £30 -£40k range and in the £0 -£20K respectively.
Overall, volumes of vehicles sold through physical and online lanes were on par with the previous month.
41% of dealers surveyed by Cox Automotive reported margin pressures
The economic outlook remains similar with only 9% anticipating improvement and 30% expecting a further decline
Modix data shows that car buyers are looking closer to home for their next car than dealers may perceive
Cash flow and digital integration remain priorities for dealers in the year ahead